Pi Coin faced one of the toughest sales in recent weeks, crashing nearly 48% in a day. This decline attacked Altcoin more strongly than most other tokens, forming a new all-time low (ATL).
A recovery from this point is possible, but it depends heavily on investor participation and the trust of new markets.
PI coins show weak signs
Technical indicators show that Pi Coin has recently entered the zone of sale. The relative strength index (RSI) is below 30.0, reflecting excessive sales pressure. The RSI has begun to recover, but it will need to rise above 50.0 to see a meaningful shift to bullish momentum in October.
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Historically, Pi Coin has often turned around near the beginning of the month when RSI bounced back from overselling conditions. If this pattern applies, October could offer a similar opportunity for recovery. Investors will monitor closely to see if Altcoin can repeat this behavior and create new demand.
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Investor sentiment around Pi Coin is currently sitting at a low of two and a half months. Traders have not shown strong optimism in the past, and recent crashes have exacerbated the outlook. Due to weak community support, Pi Coin is facing a difficult battle to generate momentum without fresh purchasing pressure.
Without investor trust, the pace of rebounds can slow down. The technical signal suggests a potential shift, but emotionally driven gatherings require commitment. Unless traders are involved again, Pi Coin may recover from the recent recession and struggle to stabilize at a higher level.
PI prices may be unstable in October
Pi Coin experienced a volatile August, followed by more turbulence in September. A one-day drop of nearly 48% reduced the token to a new $0.184 ATL. This marked a tough setback to testing the patience of projects and investors.
In October, it was often called “up-to-bar” with a bullish seasonal trend, allowing PI Coin to try and recover. The 35% increase will help Altcoin Reclaim Strength, with price targets set at $0.286 and $0.340. A rally passing these levels could push the PI coin to $0.360 and effectively erase recent crashes.
However, if the decline continues, the PI coins risk falling below the $0.256 support. A deeper fall could send the price to $0.200, potentially negating bullish prospects. This would indicate an even more weakness in the altcoin, as a lasting reluctance from investors.
